Marmalade Architecture

The introduction of the multi-policy model in Marmalade V2, with the inclusion of middleware contracts like policy-manager and sale-contracts, aims to enhance the user experience by simplifying token creation and management.

The ledger functions as the primary contract responsible for user interaction, and it offers the following main functions:

create-token: creates the token with URI, policies, and precision of the token
mint: mints token
burn: burns token
transfer: transfers token from a Marmalade account to another Marmalade account
[sale] offer: 1st step of sale, transfers the token from the seller to an escrow
[sale] buy: 2nd step of sale, transfers the token to from escrow to the buyer
[sale] withdraw: 1st rollback step, transfers the token from escrow back to the seller

Marmalade V1 tokens were designed to be governed by a single policy that allows customization of the core Marmalade functions. In Marmalade V2, token creators can now use multiple policies to program the tokens.

We introduce a new contract, policy-manager, which acts as a middleware between the ledger and the policies. We will explain key concepts that the Policy Manager provides below.

Quoted Sale

In Marmalade v1, fixed-quote-policy served as an example for handling the fungible transfers at sales. With the upgrade to Marmalade V2, we have integrated this fungible transfer feature inside the Policy Manager, which includes various interactions between the Policy Manager, policies, and sale contracts. This allows secure escrowed transfers, creative auctions, guaranteed royalties, and standardized processes within marketplaces.

Escrows

The Policy Manager also establishes a standard for the collection and distribution of fungibles between the seller, buyer, and policies through an escrow.

As a middleware, the Policy Manager receives the user’s offer or buy call from the ledger, and dispatches it to individual policies that the token is composed of. In the case of quoted sales, the Policy Manager transfers the quoted price from the buyer to an escrow account, disburses a portion of the reserved fees to the policies, and then remits the remaining quoted price to the seller.

The Sale Contract is a contract responsible for updating the final price of the quote during the buy process. By managing sale contracts within Marmalade, we can provide users a safe way to participate in various sale features such as creative auctions, while also guaranteeing royalty payout.

Marmalade on GitHub